North America

Two officials have said that the South Korean investigation into the crash of Jeju Air, which killed 179 people, is likely to miss the deadline for releasing a progress report. This comes as the relatives of victims are still demanding answers to what went wrong. Two board officials confirmed that the country's accident investigation board will not be able to release an interim update on the Monday, first anniversary of the worst plane accident in South Korea. The two officials declined to give their names due to the sensitive nature of the issue. The Boeing 737-800, which was on a...

Honeywell said Monday that it expected to "record a one time charge of about $470 million" in the fourth quarter related to a possible settlement of Flexjet litigation. This sent its shares down by 1.3% during premarket trading. Flexjet, a private aviation company, sued Honeywell on?March 20, 2023 for allegedly breaching an agreement regarding aircraft engine maintenance services. Flexjet demanded liquidated damages for?delayed repairs of engines and said the damages continue to accrue each month. Honeywell updated its full year outlook, as it plans on reporting its 'Advanced Materials Unit' as discontinued operations beginning in the 'fourth quarter 2025. This...

India's aviation regulator revealed on Monday that an Air?India Boeing 777 had to return?after?a fall in oil pressure caused the pilots to shut down one of the jet engines. Directorate General of Civil Aviation said that the incident would be investigated. The aircraft was on its way to Mumbai, India's financial center. Modern aircraft can safely land and fly on one engine if necessary. Air India was under intense scrutiny after the crash of a Boeing Dreamliner on June 12, which killed 260 people. The DGCA flagged'multiple safety lapses' at a?airline, which was owned by the government until 2022. Air...

The South Korean parliament approved a bill on Monday that would launch an independent investigation into the December 2024 crash of the Jeju Air plane, which killed 179 people. It was the worst air disaster to ever occur in South Korea. A panel of 18 parliamentarians will investigate possible causes of the accident, including whether there was enough done to prevent a bird strike or any mechanical failures, and if the plane hit an embankment at the end of the runway. According to the bill, the inquiry will also examine whether the government tried to conceal or downplay any findings...

Executives from both companies said that the proposed merger?of Mexican low-cost carriers Volaris Aerobus and Viva Aerobus aims at putting the new 'airline group' in a stronger position to negotiate its most expensive costs, including acquiring & renting aircraft. Exclusively reported on Thursday, Volaris confirmed that the two airlines were close to an agreement. "Reducing aircraft ownership costs is a significant opportunity, as they are the biggest expense - even more than fuel," Viva's CEO Juan Carlos Zuazua told analysts in a conference call. He added that "major global carriers, such as Viva and Volaris, operate with up to 60%...

Sources familiar with the matter confirmed on Thursday that Volaris and Viva Aerobus were close to a'merger.' This would create a low cost champion for Mexico by combining two of the largest?airlines? in the country. The merger will be structured in a way that is fair to both parties. The sources said that both airlines would retain their brands and own 50% of the new holding company. Volaris closed Thursday at 14,89 pesos. This gives it a market cap of approximately 17,4?billion?pesos (roughly $967 million). Indigo Partners is the company's biggest shareholder. It also owns U.S. carrier?Frontier, and Chilean airline...

Carsten Spohr, CEO of Lufthansa, said that the airline plans to expand transatlantic flights in order to take advantage of strong demand from key U.S. markets and promote its new premium seats. In an interview with Lufthansa in Frankfurt, he stated that "we have been able to shift the point of sale?to?almost 60 percent now coming from Europe and only 40 percent from the U.S. This used to be the opposite for many years." Spohr stated that the majority of U.S. growth has come from smaller cities as opposed to hubs like New York. Lufthansa will, for example, increase its...

Carsten Spohr said that the German airline group Lufthansa expects a?6% increase in supply for its passenger airlines operating on its "long-haul" routes by 2026. The CEO also stated that it expected to receive a new widebody aircraft every other week, which would help boost growth. Lufthansa wants to expand its international routes and internationalize its company as part of its broader strategy aimed at achieving a profit margin increase between 2028-2030 of 8-10%. Spohr said that the capacity growth will be limited on shorter haul routes where they are seeking efficiency. Spohr, at the offices of?Lufthansa in Frankfurt, said:...

After another year of mixed results under Carsten Spohr, the German airline group has vowed that its ambitious turnaround plan will become a reality in 2026. The group's share price has fallen by around a third since Spohr became CEO in 2014. The stock rose in 2017 but was then hit by the Covid-19 Pandemic. It has since struggled to recover, becoming a laggard among European airlines. According to LSEG, if you had invested the day Spohr took over as CEO, you would have lost 18%, including dividends. That's 1.7% annually. LSEG data shows that although its shares have closed...

The?U.S. The?Justice Department announced late on Wednesday that the federal government is liable for the deadly collision between an Army Black Hawk helicopter, and American Airlines Regional Jet which killed 67 near Reagan Washington National Airport. The government acknowledged that it had "a duty of care" to the plaintiffs which it breached -?thereby proximately leading to the tragic accident. It also admitted that the pilots on the Army helicopter as well as the regional jet failed to maintain "vigilance to avoid each other". According to the Justice Department, a Federal Aviation Administration (FAA)?air traffic controller also failed to comply with...

Delta Air Lines announced on Wednesday that Glen Hauenstein will retire from his position as president in February. Hauenstein is the architect of Delta's "premium focused strategy". Hauenstein, 64 years old, has been president of the Atlanta-based airline since 2016. Hauenstein, 64, joined the Atlanta-based airline?in 2005 and has served as president since 2016. He promoted high-end products, and convinced travelers to pay for seats such as first class that were previously given away as upgrades. The strategy delivered'strong results': premium products accounted 43% of Delta passenger revenue in the last quarter, up eight percentage points compared to pre-pandemic levels....

The U.S. Senate passed unanimously legislation?Wednesday that would toughen military helicopters safety rules, and rescind a clause?in the annual defense act?that critics claimed would have weakened aviation security. Republican Senate Commerce Committee chair Ted Cruz on Wednesday won unanimous consent to approve a revised version of legislation that would require aircraft operators by the end of 2031 to equip their fleets with an automatic dependent surveillance-broadcast system, also known as ADS-B. The bill is co-sponsored with Democratic Senator Maria Cantwell. It also increases oversight of commercial helicopter and jet traffic, as well as flight routes near airports. Cantwell stated that...

FedEx reported higher profit and revenue for the second quarter on Thursday, and raised?the lower end of its earnings forecast for the full year. Peak-season pricing and cost-cutting measures helped offset softer shipment volume. Memphis-based 'package delivery' company reported an adjusted profit for the second quarter ending November 30 of $1.14 Billion, or 4.82 cents per share. This is up from $990 Million, or $4.05 cents per share a year ago. After-hours, shares of the company rose 1.4% to $291. FedEx is pursuing a multiyear cost overhaul, which began in 2023. The company aims to save billions by idleing aircraft,...

FedEx reported higher profit and revenue for the second quarter on Thursday, and raised its low-end earnings forecast. This was due to a combination of cost-cutting and peak-season pricing measures that helped offset softer shipment volumes. Memphis-based package company, Memphis Package Delivery, reported an adjusted profit for the second quarter ending November 30 of $1.14 Billion, or $4.82 a share. This is up from $990 M, or $4.05 a share, one year earlier. FedEx is pursuing a multiyear cost overhaul?since 2023. It aims to save billions by idleing aircraft, closing sites and integrating the previously separate Ground and Express operations....

According to the reverse logistics company owned by UPS, nearly one out of every ten retail items returned to the U.S. for a refund is fraudulent. The company says that it plans to use artificial intelligence to help retailers combat this $76.5 billion problem. Happy Returns, a UPS-owned company that processes boxless returns, is testing an AI fraud detection tool this holiday season with a few clients. These include apparel sellers Everlane Revolve and Under Armour. This was revealed by Happy Returns' CEO David Sobie during a tour of the company's Los Angeles hub. Return fraud is a form of...

The U.S. The U.S. U.S. Postmaster-General David Steiner said he hoped Amazon.com would participate in the process of seeking bids for 18,000 USPS Delivery Destination Units that will allow "last mile" deliveries to customers from a wider range. Steiner, in his first interview after taking over the USPS leadership, said that this could add billions in revenue. The Postal Service delivers more than 170 millions U.S. addresses every week, and the last mile is the most expensive. Steiner added that it is also very expensive for FedEx, UPS, and Amazon. "We have a precarious cash situation." He said that we...

The U.S. The U.S. U.S. postmaster general David Steiner stated in an interview that he hopes Amazon.com, and other companies, will participate in the bid process to open up its 18,000 USPS destination units for "last mile" deliveries, which would allow a wider?range of clients, adding billions of dollars of much needed revenue?to USPS. "We are in a very precarious financial situation." Steiner stated that we will be out of money in 12 to 24 months. Steiner stated that it was "clear" to him that you could not save your way to prosperity. He added that USPS's current free cash,...

In 2026, Formula One fans can expect to hear a lot more about Boost and Overtake. The Liberty Media owned sport announced a re-evaluation of terminology Wednesday, to coincide with the beginning of a brand new era of engines and the largest ever revision of technical regulations. The cars will have thinner and lighter tyres, a split of 50/50 between internal combustion, sustainable fuel and electric power. In a recent statement, Formula One stated that "in this new generation of drivers the power is more in their hands than before." "Critical decisions over energy deployment, regeneration and conservancy puts them...

The Trump administration threatened on Tuesday a wide range of retaliatory actions against EU service providers. These could include fees or restrictions for foreign services if these firms continue to engage in what the USTR called “discriminatory” practices. In a recent post, the Office of the U.S. trade representative accused the 'EU and its member states of discriminatory and harassing lawsuits as well as?taxes fines and directives that target U.S. Services. It also said EU'service providers operate freely in the U.S. pointing out Accenture, DHL Siemens and Spotify among others. The USTR stated that "if the EU and EU member...

Sources with knowledge of this matter confirmed on Friday that an Italian unit of the e-commerce giant Amazon had paid compensation to delivery staff and removed a monitoring system, putting an end to a probe of alleged tax fraud, and illegal labor practices. In July 2024, the logistics services unit of the group was accused by the authorities of circumventing tax and labour laws. It relied on limited liability companies or cooperatives to supply it with workers. The unit also avoided VAT tax, and reduced social security payments. Milan's prosecutors confiscated 121 million Euros from the unit at the time....

Sources with knowledge of this matter confirmed on Friday that an Italian unit of the e-commerce giant Amazon had paid compensation to delivery staff and removed a monitoring system, ending an investigation into alleged tax fraud. In July 2024, the logistics services unit of the group was accused by the authorities of circumventing tax and labour laws. It relied on limited liability companies or cooperatives to supply it with workers. The group also avoided VAT tax, and reduced social security payments. Milan's prosecutors confiscated 121 million Euros from the unit at the time. Two sources confirmed that the group had...

Amazon plans to end its longstanding partnership with the U.S. The Washington Post reported Thursday that Amazon is preparing to expand its nationwide distribution network as it prepares to expand the ecommerce company's delivery network. Report: The top postal customer is the online retailer, which will provide more than $6 billion annually in revenue by 2025. The move could have a major impact on the financial prospects of the independent government agency, which has relied heavily on contracts with large customers like Amazon to drive growth despite heavy losses. USPS reported a $9.5 Billion loss last year. It has accrued...

According to the law firm representing the victims, the families of victims of a UPS cargo plane crash are planning to file a lawsuit for wrongful death on Wednesday. UPS MD-11 cargo plane crashed in Louisville, Kentucky on November 4 immediately after takeoff, killing 14 people. According to a preliminary report by the National Transportation Safety Board, crash investigators found fatigue cracks on a support structure that connects the plane's left pylon to its wing and engine. Bob Clifford said that the preliminary report "suggests this plane is old, tired and beyond its useful lifetime," one of the lawyers representing...

USPS receives $3 billion in funding from Congress to support infrastructure and EVs USPS bought 8,700 Ford E-Transits, of which 2,010 are in service Senate Republicans block USPS from scrapping EVs and charger equipment By David Shepardson WASHINGTON, 2 Dec - The U.S. Postal Service currently uses more than 2,600 vehicles to deliver mail, according to a letter sent by the agency on Tuesday. In 2023, Congress granted USPS $3 billion to purchase electric vehicles and charging equipment under the then-President Joe Biden. This included $1.2 billion specifically for EVs. In a letter dated November 17, USPS Government Relations Chief...